Antero Midstream Publishes 2020 ESG Report and Reiterates 2025 Environmental Goals
DENVER, Oct. 5, 2021 /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced the publication of its 2020 ESG Report highlighting its focus on People, Performance and Purpose. The report details Antero Midstream's ongoing commitment to the communities in which it operates, safe operations, environmental excellence and strong governance. The full report is available at www.anteromidstream.com.
- Social Responsibility & Safety
- Provided full value chain midstream services that allowed Antero Resources to export approximately 60,000 Bbls/d of LPG (1) in 2020, including approximately one-third to developing nations
- Generated and paid property and severance taxes of $6 million in West Virginia and Ohio
- Antero Foundation contributed over $682,000 in direct community donations in 2020
- Six consecutive years without an employee Lost Time Incident
- Reduced Total Recordable Incident Rate (TRIR) by 62% from 2016 to 2020
- Environmental Leadership
- Reduced methane leak loss rate to 0.015%, significantly below the ONE future industry goal of 1% and more than 50% lower than the midstream industry peer average of 0.033%
- Recycled and reused 84% of total wastewater gathered and 100% of fresh water used in completions was transported by pipeline, eliminating 32 million truck traffic miles and avoiding 14,000 metric tons of CO2e
- 78% of the Board of Directors are independent and 29% of the independent directors are female
- Aligned executive compensation with ESG performance
- Established ESG Committee of Board of Directors
- Launched ESG advisory council, a cross-disciplinary group of internal subject matter experts that assists the ESG Committee with the management of ESG risks, opportunities and strategies
2025 Environmental Goals:
- 100% reduction in pipeline maintenance emissions
- Align with TCFD and SASB disclosure frameworks and standards
Paul Rady, Chairman and CEO of Antero Midstream commented, "This year's ESG report highlights the foundation of Antero Midstream's success – a focus on People, Performance, and Purpose. Our relentless focus on these principals has allowed us to successfully navigate the ever-changing economy, while continuing to deliver stakeholder value. Our dedicated and talented employees responded to the volatility in 2020 with relentless determination to safely continue operations while recognizing that the work we do, and the energy we deliver is essential to building our local communities and global economies."
Brendan Krueger, CFO of Antero Midstream said, "From the start, Antero Midstream has focused on minimizing our operational and environmental footprint in our communities. This commitment led us to construct the largest water pipeline system in Appalachia, eliminating 32 million miles of truck traffic from local roads in 2020. Looking forward, we continue to focus on operating expense and capital efficiencies, specifically matching our infrastructure capacity build out with expected throughput volumes, eliminating routine flaring. This proven strategy allows us to minimize inefficiencies from excess infrastructure and maintain high asset utilization rates. This generates consistent returns on invested capital and most importantly, improves the communities we operate in. We will continue to strive to be the employer of choice in West Virginia and Ohio with a culture of continuous improvement for our stakeholders."
1. Liquid Petroleum Gas, typically 75% propane and 25% butane
The Company posted its 2020 ESG Report presentation on its website at www.anteromidstream.com. Information on the Company's website does not constitute a portion of, and is not incorporated by reference into, this press release.
Antero Midstream Corporation is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in the Appalachian Basin, as well as integrated water assets that primarily service Antero Resources Corporation's properties.
This release includes "forward-looking statements." Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Midstream's control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments Antero Midstream expects, believes or anticipates will or may occur in the future, such as statements regarding Antero Midstream's ability to execute its business plan and return capital to its stockholders, information regarding Antero Midstream's return of capital policy, information regarding long-term financial and operating outlooks for Antero Midstream and Antero Resources, information regarding Antero Resources' expected future growth and its ability to meet its drilling and development plan and the participation level of Antero Resources' drilling partner and the impact on demand for Antero Midstream's services as a result of incremental production by Antero Resources, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements speak only as of the date of this release. Although Antero Midstream believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Midstream expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
In addition, many of the standards and metrics used in preparing this release and the ESG Report continue to evolve and are based on management expectations and assumptions believed to be reasonable at the time of preparation but should not be considered guarantees. The standards and metrics used, and the expectations and assumptions they are based on, have not been verified by any third party. In addition, while we seek to align these disclosures with the recommendations of various third-party frameworks, such as the Task Force on Climate-Related Financial Disclosures, we cannot guarantee strict adherence to these framework recommendations. Additionally, our disclosures based on these frameworks may change due to revisions in framework requirements, availability of information, changes in our business or applicable governmental policy, or other factors, some of which may be beyond our control.
Antero Midstream cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to our business, most of which are difficult to predict and many of which are beyond Antero Midstream's control. These risks include, but are not limited to, commodity price volatility, inflation, environmental risks, Antero Resources' drilling and completion and other operating risks, regulatory changes, the uncertainty inherent in projecting Antero Resources' future rates of production, cash flows and access to capital, the timing of development expenditures, impacts of world health events, including the COVID-19 pandemic, cybersecurity risk, and the other risks described under the heading "Item 1A. Risk Factors" in Antero Midstream's Annual Report on Form 10-K for the year ended December 31, 2020.
This release and the ESG Report contain statements based on hypothetical or severely adverse scenarios and assumptions, and these statements should not necessarily be viewed as being representative of current or actual risk or forecasts of expected risk. While future events discussed in this release or the report may be significant, any significance should not be read as necessarily rising to the level of materiality of certain disclosures included in Antero Midstream's SEC filings. These scenarios cannot account for the entire realm of possible risks and have been selected based on what we believe to be a reasonable range of possible circumstances based on information currently available to us and the reasonableness of assumptions inherent in certain scenarios; however, our selection of scenarios may change over time as circumstances change.
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SOURCE Antero Midstream Corporation
Released October 5, 2021